INSIGHTs for Profit Impact
Because each product and customer has a different profit margin, this mix will impact your overall profitability.
Regardless of size, it’s important that someone at your company has clear responsibility and accountability for managing pricing.
We interviewed pricing expert Keith Hohman about the four most common price leaks facing B2B companies today.
Whether it’s from pricing, freight, rebates, or payment terms, price leaks can have a detrimental effect on your company’s profitability.
What safeguards can you put in place to protect the gains you’ve achieved and prevent your company from sliding back into past poor pricing habits?
To have an immediate impact on your bottom line without formally raising prices, here are three areas to tackle first.
Getting to the "right" price for your customer can be difficult and time consuming. How do you know you are pricing correctly?
Prepare your team for difficult price increase conversations with a negotiation tactics document that communicates the tactics to use when facing customer objection.
Wallet share looks at your existing book of business, and asks: “customer by customer, how much business am I getting and who is getting the rest?”
To mitigate the risk of excessive discounting, establish a pricing system that manages pricing exceptions and balances volume incentives with well-defined boundaries.